Allowing the petition the Court held that where assessee established Diamond Industrial Park in SEZ and claimed deduction u/s 80-IA, AO having raised queries in original assessment could not reopen on same issue. Reopening was held to be mere change of opinion and unsustainable. [AY. 2013-14]
Diamond and Gem Development Corporation Ltd. v. ACIT [2023] 155 taxmann.com 239 (Bom)(HC)
S. 147 : Reassessment Infrastructure undertaking-Change of opinion-Query was raised in original assessment proceedings-Reassessment notice and order disposing the objection was quashed. [S.80IA(4)(iii), 148, Art. 226]